(Alliance News) - The board of directors of Gabetti Property Solutions Spa on Monday approved the consolidated half-year figures as of June 30, reporting a loss of EUR1.0 million compared to a profit of EUR6.8 million recorded as of June 30, 2022.

The figure, the company explains, "was strongly penalized by the regulatory change inherent to the subject of redevelopments, which slowed down and partly blocked Gabetti Lab's operations for a few months with negative repercussions on franchising as well."

In addition, the company specifies, "the postponement of the closing of some Corporate operations and the EUR1 million capital loss resulting from the sale of Grimaldi, a non-repeatable operation and net of which the result would be essentially break-even, have weighed."

Group operating revenues as of June 30 amounted to EUR60.8 million, down from EUR98.2 million in the same period last year.

Ebitda from the services business was EUR7.1 million compared to EUR17.6 million as of June 30, 2022.

Ebit amounted to EUR2.2 million, down from EUR12.0 million in June 30, 222.

"Effective" net financial debt without considering the IFRS 16 effect was EUR18.4 million, an increase of EUR12.4 million from December 31, 2022.

Gabetti Property Solutions shares closed Monday down 1.0 percent to EUR0.89 per share.

By Chiara Bruschi, Alliance News reporter

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